IRB Infra net profit rises multi-fold to Rs 363 crore in June quarter

Highways developer IRB Infrastructure Developers Ltd on Friday reported a multi-fold increase in consolidated net profit at Rs 363.19 crore for the quarter ended June 30.

The company had clocked a consolidated net profit of Rs 71.91 crore in the corresponding period of the previous fiscal, it said in a regulatory filing.

Total consolidated income during the quarter under review rose to Rs 1,995.40 crore as against Rs 1,670.48 crore in the year-ago period.

Its expenditure declined to Rs 1,452 crore during the June quarter, compared to Rs 1,529.73 crore earlier.

IRB Infrastructure Developers, in a statement, said its board has approved sale of Vadodara Kim hybrid annuity model(HAM) project in Gujarat for Rs 342 crore.

At present, IRB Group's portfolio (including private and public InvIT) has 22 road projects.